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Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
 It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers and financiers of shipping. There is restructuring amongst commodity traders. There is restructuring amongst shipbuilders. There is restructuring amongst ship owners. There is even restructuring of the fleet, said George Lazaridis
In his weekly report.
According to George Lazaridis, Head of Market Research & Asset Valuations of Allied Ship broking, It has certainly been the case that there were many issues in the market that needed to be “corrected” and as earnings dipped across all market sectors the urgency of these corrections increased. The reality is that earnings across all parts of the shipping industry have been under strain for over 5 year now, but as things got more difficult there was little that was being done to purge the issues, while in some cases the over exuberance held by many in the industry led them to take further steps which would inevitably cause further issues down the line.
The broker further said, taking the case of the shipbuilding industry for one and looking at what the IMF recently pointed out while discussing the restructuring burden that S. Korea would have to face now, it is clear that in part it was commercial decisions being made on the part of shipbuilders that led them to such high corporate debt problems and problematic cash flows.
Had it not been for the excessive push for ever bigger operations and more shipbuilding contracts and we would not be facing such a massive glut in supply today. In retrospect the approach that Japanese shipbuilders took to restructure, consolidate and optimize shipbuilding operations proved to be the right decision, while trying to take this approach today is a lot harder than it would have been had it been done 2-4 years earlier. This is not only an isolated case present only in S. Korea alone. Similar points can be made about the Chinese shipbuilding industry, as well as other parts of the shipping industry.
The Allied broker further noted, for one there are numerous voices out there that throw blame on the ship financing sector and granted that in part it was both the ease by which financing continued to be provide to a select few in the market and the direction it took, but equally to blame were those who took up the option without safeguarding their interests and calculating the increased risk they put themselves into.
According to the Greece-based shipbroker, In terms of direction this financing took, the issue was as to how much of this was being pushed over towards new buildings on the grounds that new designs were more competitive and newer units were less risky options for the financier. This would inevitably mean that we were always overshooting what demand would dictate we needed to have. Let’s not forget that most who placed these new “ECO” ships were doing so while saying that these new ships would push the older designs out of the market and make them obsolete.
The Allied said that the restructuring which is now being undertaken may well have been overdue, but nevertheless it has not come too late.
The Allied concluded that things are slowly starting to improve as corrections are made. Shipbuilding capacity has decreased and will likely continue to decrease over the coming months. The orderbook has also dropped rapidly, while ship supply has been kept fairly well balanced in most sectors and segments. There has been a considerable amount of debt from ship owners that has been restructured and refinanced while it has also encompassed a more realistic approach to the risks at hand. All these might not sound as much today as they tend to be the consequence of the poor decisions made in the past, but one needs to keep in mind that they must also be seen as the kick-off that will inevitably lead us onwards on to the next boom.
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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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Showing 106 to 110 news of total 6871 |
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- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
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